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Category: IC11 PRACTICE OF GENERAL INSURANCE EXAM – 35

IC11 PRACTICE OF GENERAL INSURANCE EXAM – 35

Que. 1 : Q1) Negotiation is a process _____________.

   1.  a) To win some how

   2.  b) To give discounts to the customer

   3.  c) To reach a win-win situation

   4.  d) To argue and defeat the prospect

Que. 2 : Q2) Hazards are:

   1.  a) Factors that increase the impact of losses

   2.  b) Factors that increases the frequency of loss

   3.  c) Factors that increase the impact and severity of losses

   4.  d) Factors that decrease the impact and severity of losses

Que. 3 : Q3) An insurer has a large number of individual contracts within a region which has frequent earthquakes. What type of reinsurance is the insurer likely to effect to protect the portfolio from a catastrophic loss?

   1.  a) Excess of loss treaty

   2.  b) Facultative reinsurance

   3.  c) Quota share treaty

   4.  d) Surplus treaty

Que. 4 : Q4) ________ policy provides cover for loss of gross profit due to stoppage of production.

   1.  a) Consequential Loss policy

   2.  b) Loss Recovery policy

   3.  c) Long Term policy

   4.  d) Reinstatement Value policy

Que. 5 : Q5) Where are the accounting transactions posted ?

   1.  a) Balance Sheet

   2.  b) Cash book

   3.  c) Day book

   4.  d) Account book